Current Tax Updates
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The standard mileage rate has increased to 65.5 cents per mile.
If you own a business and drive business miles, don’t forget to log your miles. You are entitled to duduct 65.5 cents per business mile driven.
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Did you purchase an electric vehicle this year or in a previous year?
You may qualify for up to a $7500 tax credit if you purchased an EV recently.. The credit is available for both personal and business vehicles.
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The SAVE repayment plan may lower your student loan repayments.
The student loan repayment pause is over as of the beginning of October, however, you may be entitled to a lower monthly payment under the SAVE plan.
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California residents in certain disaster areas automatically extended to file and pay.
If you are a California resident living in a declared disaster area, you have until November 15, 2023 to file and pay to your taxes. If you recently received a notice from the IRS saying that you have 21 days to pay your taxes, that notice does not apply if you live or work in an IRS-declared disaster area.
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Montana is offering a 2021 income tax rebate.
If you paid income tax to the state of Montana in 2021 and filed a Montana income tax return, you may be recieving an automatic rebate of up to $1,250.
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Montana is offering 2022 and 2023 property tax rebates.
If you paid property tax on a property that you own in 2022 or 2023, you may be eligible for a property tax rebate of up to $675 for each year. Applications open August 15, 2023 and must be submitted no later than October 1, 2023.